Whether you’re starting a new business or you’re thinking of forming a US Company, there are some important documents you should have. These documents include a Federal Employer Identification Number (FEIN), Articles of Incorporation, Shareholder agreements, and Stock certificates.
Articles of Incorporation
Generally, Articles of Incorporation for a US company are a set of formal legal documents filed with the state. These documents serve as the foundation of the corporation and give it legal authority to conduct business in the state. They provide important information about the corporation, such as its name, purpose, type of shares, and a brief description of the corporation. The articles may also include a brief description of the corporation’s capital structure.
Although Articles of Incorporation for a US company are important, there are other aspects to consider. An attorney will have the necessary knowledge to ensure that the documents you file meet state requirements. You can also find information about the components of an Articles of Incorporation on the Secretary of State website.
Depending on the state, you may also be required to fill out additional forms. If you are incorporating a non-profit organization, you may need to state the purpose and the intended benefit of the organization. You may also need to file a certificate of registration.
Creating corporate bylaws is a process that involves a simple agreement between the initial incorporators. These bylaws outline how the business will operate and provide legal protection to the company. The business owners may need to demonstrate their bylaws to obtain a bank account, open a retirement plan, and many other things.
When creating bylaws, you should include details about the selection process, the voting rights of members, and the procedures for removal. You should also make sure that you describe how conflicts of interest will be handled. This disclosure demonstrates that your board members have fiduciary responsibility to the company and potential business partners.
You should also provide a description of the quorum required for meetings. This is the minimum number of shareholders that must be present to take action. A common quorum is fifty percent of the shareholders.
Getting unanimous approval is no easy feat. However, you can avoid this by using a shareholder agreement. It’s a business contract between the owners of a company and outlines the various powers and responsibilities of the shareholders. It also details the process of becoming a new shareholder.
A shareholder’s agreement also contains provisions for raising capital. This may include requiring shareholders to pay an initial sum, or to invest in the business. The shareholders may be expected to do this on a quarterly or annual basis.
A shareholder’s agreement may also include rules for selling or transfering shares. It may also include non-compete and solicitation provisions. It may also require shareholders to attend certain meetings.
Obtaining stock certificates is a good idea if you want to trade or hold shares of a US company. However, they are not a legal requirement. In fact, most companies only issue them on request.
Stock certificates, or certificates of stock, are pieces of paper that prove an investor’s ownership of a company’s shares. They list the owner, the number of shares owned, and the name of the company. They are also used to prove entitlement to dividend payments.
Some companies are even able to issue electronic copies of stock certificates. However, these are usually expensive. If you are unsure how to obtain these documents, you should consult a securities lawyer. These professionals can help you to ensure your certificates are in compliance with all applicable state laws.
Federal Employer Identification Number (FEIN)
Getting a Federal Employer Identification Number (FEIN) is one of the first things you should do if you want to form a US company. This nine-digit identification number is assigned by the IRS. It is used by businesses for several purposes, such as filing taxes, opening business bank accounts, bidding on government contracts, and more.
Most business entities, such as corporations and partnerships, need an FEIN to be able to file taxes. This number is also used by banks to open business bank accounts, issue business credit cards, and more.
The IRS also offers a free service that allows you to get an EIN. If you apply by mail, it can take up to four weeks to get the number. However, you can get an EIN online for a faster process.
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